Lucid Group, Inc. (NASDAQ:LCID) is set to release its fourth-quarter financial results after Tuesday's closing bell. Here's a look at what to expect in the report.
What To Watch: Lucid reported record deliveries of 3,099 vehicles in the fourth quarter, up 79% year-over-year, due in part to the launch of the Lucid Gravity SUV. Investors will be watching fiscal 2024 production numbers which Lucid guided to approximately 9,000 vehicles in its third-quarter report.
Wall Street will be looking for improvements in the company's gross margin performance and updates on its cost reduction efforts and cash reserves as the company has yet to turn a profit.
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Benchmark analyst Mickey Legg recently initiated coverage on Lucid stock with a Buy rating and a $5 price target, according to Markets Insider. The analyst highlighted the company's strong cash reserves and product lineup and sees EV production in the U.S. ramping up in 2025.
Legg also noted that though President Donald Trump's plan to cut incentives may slow EV adoption, Lucid could gain market share as legacy automakers delay their shift to electric vehicles.
According to estimates from Benzinga Pro, analysts expect the company to report quarterly losses of 25 cents per share on revenue of $214.22 million.
LCID Price Action: According to Benzinga Pro, Lucid Group shares are down 3.24% at $2.69 at the time of publication Tuesday.
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